just wondering…
we are beginning to look for IP no2 and are wondering how to best utilise our options.
We purchased IP no 1, two months ago, renovated and heve had a tennant for one week – all going well so far[
]. The value of this IP has increased by 15-20,000 in this time, so we have about 30,000 equity.
We also still have some savings and we don’t have PPOR.
Other interesting hiccup, have only been in new job 3 weeks.
Does this mean we are not able to borrow money for the time??
Also, we are interested in going to auctions and are unsure of how to approach this financially.
Any advise appreciated.
Thanks, DianeDiane,
Few questions there.
The job issue won’t necessarily be a problem esp if it is in the same industry and your employment hiustory shows previous stability.
I would recommend you have a pre approval in place before buying at auction!
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
]. The value of this IP has increased by 15-20,000 in this time, so we have about 30,000 equity.
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